Benchmark Shanghai rubber futures rose to a record high on Wednesday (February 9) on supply concerns and a surge in the TOCOM futures price, which also hit a record high earlier in the day.
The most active Shanghai rubber futures contract for May delivery rose as high as 43,500 yuan per tonne, climbing above the previous high of 41,850 yuan hit on Jan. 31.
The strong rises come after China moved for the second time in six weeks to rein in its surging inflation with an interest rate rise.
(Reuters, February 9, 2011)
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